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HTMLIdaho Personal Auto Insurance Carriers Being Asked to Provide Data For Online Insurance Verification System
Colodny Fass P.A.;
Legal Alert/Article
March 2, 2015, previously published on February 22, 2015
Pursuant to Idaho law relating to motor vehicle financial responsibility, the Idaho Transportation Department ("ITD") is in process of establishing an Online Insurance Verification System ("OIVS") to verify motor vehicle insurance coverage.

 

HTMLWhen a Vehicle Is an Automobile - The Maze of Statutory and Case Law in New Jersey for Determining Eligibility for PIP Benefits
Ariel C. Brownstein; Marshall Dennehey Warner Coleman & Goggin, P.C.;
Legal Alert/Article
March 2, 2015, previously published on December 1, 2014
Coverage for Personal Injury Protection (PIP) benefits in New Jersey is available to those who “sustain bodily injury as a result of an accident while occupying, entering into, alighting from or using an automobile, or as a pedestrian, caused by an automobile or by an object propelled by or...

 

HTMLLife Insurance Unclaimed Property Recommendations of the Uniform Law Commission Working Group
Wilson G. Barmeyer, Ellen M. Dunn, Phillip E. Stano, Steuart H. Thomsen, Mary Jane Wilson-Bilik; Sutherland Asbill Brennan LLP;
Legal Alert/Article
February 27, 2015, previously published on February 27, 2015
The Uniform Law Commission (ULC) Life Insurance Working Group (Working Group) has released its recommendations to revise the life insurance provisions of the Uniform Unclaimed Property Act of 1995 (1995 Uniform Act or Uniform Act). The Working Group’s recommendations include triggering the...

 

HTMLMunicipal Bond Interest Paid By a Bond Insurer After an Issuer’s Bankruptcy Discharge Can Remain Tax-Exempt
Maxwell D. Solet, Leonard Weiser-Varon; Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.;
Legal Alert/Article
February 27, 2015, previously published on December 22, 2014
In the aftermath of recent municipal bankruptcies in which issuers proposed and/or implemented bankruptcy plans involving partial discharges of the issuer’s payment obligation on insured bonds, there has been increased focus on whether municipal bond interest paid by a bond insurer after the...

 

HTMLOff-Key BABs: IRS Hits Wrong Note in Reissuance Analysis
Leonard Weiser-Varon; Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.;
Legal Alert/Article
February 27, 2015, previously published on December 30, 2014
The IRS recently published a December 9, 2014 Chief Counsel Advice Memorandum to the effect that the defeasance of taxable Build America Bonds (BABs) causes a tax reissuance of the bonds, with the consequence that the municipal issuer ceases to be eligible for federal government interest subsidies...

 

HTMLFlorida's Citizens Property Insurance Notes Recovery Efforts For Policyholders
Colodny Fass P.A.;
Legal Alert/Article
February 26, 2015, previously published on February 18, 2015
Florida's Citizens Property Insurance Corporation advised today, February 18, 2015, that it has returned nearly $310,000 in refunds directly to affected policyholders in 2014 as part of efforts that recovered claims payments of $4.9 million by pursuing reimbursement from product manufacturers,...

 

HTMLTexas Department of Insurance Special Data Call to Private Passenger Auto Insurers Due March 2, 2015
Colodny Fass P.A.;
Legal Alert/Article
February 26, 2015, previously published on February 19, 2015
In Bulletin B-0004-15 issued yesterday, February 18, 2015, the Texas Department of Insurance ("TDI") issued a special data call for information from insurers writing private passenger automobile insurance in Texas.

 

HTMLFlood Insurance Reform Implementation Status--U.S. Government Accountability Office Reports to U.S. House Financial Services' Maxine Water
Colodny Fass P.A.;
Legal Alert/Article
February 26, 2015, previously published on February 19, 2015
In a report to U.S. House Financial Services Committee Ranking Member Maxine Waters (D-CA) today, February 19, 2015, the U.S. Government Accountability Office ("GAO") reviewed the Federal Emergency Management Agency's ("FEMA's") implementation of the Homeowner Flood Insurance...

 

HTMLNAIC Submits Comments on Global Risk Insurance Capital Standards in Advance of March 20 IAIS Rome Meeting
G. Donovan Brown; Colodny Fass, P.A.;
Legal Alert/Article
February 26, 2015, previously published on February 18, 2015
In advance of the International Association of Insurance Supervisors' ("IAIS") second meeting on global risk insurance capital standards ("ICS") scheduled for March 20, 2015 in Rome, Italy, the National Association of Insurance Commissioners ("NAIC") submitted comments...

 

HTMLRating Bills Highlight Florida House and Senate Insurance Committee Action Today--February 17, 2015
Colodny Fass P.A.;
Legal Alert/Article
February 26, 2015, previously published on February 17, 2015
The Florida Senate Committee on Banking and Insurance Committee ("Committee") agenda included a bill sponsored by Senator Jeff Brandes relating to hurricane loss modeling in property and casualty rate filing.

 


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